Citadel Securities arms itself for new European trading rules

Market-maker will become a systematic internaliser under Mifid II, which comes into force in January

By

Samuel Agini

October 13, 2017 2:00 p.m. GMT

Citadel Securities, the electronic trading firm owned by hedge fund titan Ken Griffin, is setting up to ensure it can trade directly with asset managers and hedge funds once new European trading rules come into force.

The market-maker, which provides liquidity on a range of stock exchanges and venues across Europe, will become a systematic internaliser under the European Union's updated Markets in Financial Instruments Directive, it announced today.